Iranian envoy Mehdi Honardoost visits Board of Investment, meets Miftah Ismail and Azhar Ali Chaudhry

Islamabad, October 06, 2016 (PPI-OT):H.E. Mr. Mehdi Honardoost, Ambassador, Islamic Republic of Iran visited Board of Investment and met with Minister of State/Chairman, BOI Dr. Miftah Ismail and Mr. Azahr Ali Chaudhary, Secretary, BOI. The Ambassador of Iran informed that after lifting US sanctions from Iran, Pakistan needs to promote investment and trade with Iran. He said that we have the same interest, religion, culture, languages and traditional values, which differentiates Pakistan and Iran relations from other countries. He said that Iran exports to Afghanistan is four times greater than Pakistan. In this regard he suggested to prepare a road map for promotion of trade and investment between the two brotherly Islamic countries.

The agreements already signed between Pakistan and Iran, should also be implemented. He also stressed to expedite Joint Economic Commission between the two countries. The Ambassador shown his great interest to link Iran with CPEC projects, as they are capable and having capacity to develop all infrastructure, power generation, transmission line, energy and construction projects etc. His Govt. also interested for establishment of power transmission line to Pakistan for boosting the electricity supply from 500 to 3000 MW, as Pakistan is energy hungry and Iran is over capacity to meet the demand of Pakistani government.

Dr. Miftah Ismail, Minister of State/Chairman, BOI thanked Mr. Mehdi Honardoost, Ambassador, for visiting BOI and appreciated his efforts and intention to boost investment, trade and economic relation between the two friendly countries. Chairman, informed that the government of Pakistan is very keen to boost trade and Investment with Iran. However, Chairman, BOI informed that Prime Minister of Pakistan is very much impressed from the economic development of Iran.

As for energy and power transmission line to Pakistan is concerned, the Chairman, BOI explained that it is very difficult to buy electricity from Iran and transmits the same through Baluchistan, because the areas of Baluchistan is neither over populated to consume the electricity, nor passing the transmission lines through Baluchistan province to any other province of Pakistan is possible its due to Cost Benefit ratio. Therefore, this project perhaps may not be feasible to Pakistan.

Chairman, BOI also agreed with the Ambassador for exchange of business delegations between the two countries, formation of Joint Economic Commission and promotion of trade and investment in all potential sectors i.e. infrastructure, construction, gas and power generation and other economic ties between the two brotherly Islamic countries.

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